What role does the World Trade Organization (WTO) primarily serve?

The World Trade Organization (WTO) primarily acts as a mediator of disputes between member countries. Its central function involves providing a framework for negotiating trade agreements and resolving trade disputes that arise between nations. When conflicts occur, the WTO facilitates discussions and negotiations, offering a structured process for resolving these disputes in a way that aims to adhere to established international trade rules. This role is crucial in maintaining stability and predictability in global trade, allowing member countries to engage in commerce with the assurance that there are mechanisms in place to handle grievances and disputes fairly and transparently.

The other options do not accurately reflect the WTO's primary function. The organization does not regulate individual member governments directly; rather, it focuses on promoting trade agreements and resolving disputes related to those agreements. While the WTO may influence aspects of trade, it does not have the authority to set or fix global commodity prices. Additionally, the management of global supply chains falls outside the WTO's mandate, as it is primarily concerned with trade agreements and dispute resolution rather than logistics or supply chain operations.